SMB is the best

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I've seen it all before during the SOES days. I post my SMB observations as a public service. Thanks for the details, but I can smell a hustle a mile away.


Todays ridiculous play :

Our best AM Idea for today, which we highlighted in our AM Meeting is to get long EXPE on a pull back close to 23.00


Pulls back to near 23 , stalls, and drops a quick 20 cents. SMB shook. Rallies thereafter, but since no stop loss (20+ cents is a lot to eat on something like this) and no reentry plan is every posted , you are left to assume that a trader would have done the right thing. Most won't.
 
Our best AM Idea for today, which we highlighted in our AM Meeting is to use 147.50 as an inflection point for BIDU for an expected upside to 151.50.


Another bagholder special. Ripped quickly past 147.50, if you held as advertised, you are sat through a shake to 143 and change. with 151.50 as the target, no SMB trader was going to take a 1 point profit a few min later, which lasted about 3 seconds before evaporating.

PS At 147.50 you were already paying up 5 points from Fri close. Nice . for the sellers.

Why do they keep posting this trash?
 
Quote from stock777:

Our best AM Idea for today, which we highlighted in our AM Meeting is to use 147.50 as an inflection point for BIDU for an expected upside to 151.50.


Another bagholder special. Ripped quickly past 147.50, if you held as advertised, you are sat through a shake to 143 and change. with 151.50 as the target, no SMB trader was going to take a 1 point profit a few min later, which lasted about 3 seconds before evaporating.

PS At 147.50 you were already paying up 5 points from Fri close. Nice . for the sellers.

Why do they keep posting this trash?
More...

what is SMB commission on newbies?
 
Quote from stock777:

Our best AM Idea for today, which we highlighted in our AM Meeting is to use 147.50 as an inflection point for BIDU for an expected upside to 151.50.

Why do they keep posting this trash?
More...

Wait a minute! A new trader pays 10k to get trained, and then plays BIDU? Dammit, I want my refund, lol!

HPQ was a less volatile play this a.m., if they're going for a tech stock. Sure, you won't get four points upside intraday, but it won't rip your head off either.

Thanks for your post, that was a good laugh.
 
even a shrink cant cure all phobias. the shrink thing is another scam for the most part. if they 'cure' you they take the credit, if not, you take the blame.

sort of like a hedge fund for the mind.

not bad on short notice.
 
SMB is always talking about how you have to be a tape reader.

The offer to teach you this skill, as , according to them, it's much too hard to learn without the mentorship of the chosen.

OK, so how can they tell you in advance, where and when to open a trade , without seeing the tape?

crystal%20ball.jpg

"Enter at 50.25, exit at 51 or before you lose your balls"
 
Quote from 50summers:

Yes, I was a trader at SMB. Hence my deep insights into the company. I've been a long time reader of elite trader and these are my first posts.

But my issue is not with SMB alone. Its a systemic problem. There are companies all over the place selling the same useless information in different packaging. If you bought every best selling book on equity trading, I doubt you would spend $2,000.

Yet these companies, SMB and their peers, claim that for the bargain basement price of $5,000-$15,000 they will teach you how to trade successfully.

What is rarely, if EVER mentioned is the fact that only 20% of trading is constituted by domain knowledge. 80% is psychology. Not market psychology, your psychology.
And unless these firms have a shrink on staff, you will not get your moneys worth.
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The bottom line is this:

If a firm has a good strategy, one that they believe in then they should take the time necessary to interview the right people. Once they get the right people, teach them, back them with THEIR money. Plain and simple. If the strategy is that good they will make plenty of money (much more than 10k) having the traders trade their strategy. IF they choose the right guys then all will work out fine. Sure not every trader they hire will make it, but trading involves risk, so does building a trading firm.

Thats one of the biggest problems today with trading firms. They are afraid to take risk. You get groups like this who take ANYONE with 10k and hire em. They are basically throwing a bunch of crap at the wall and seeing what sticks. There is 2 reasons they have a huge failure rate and high turnover. Either they are hiring the wrong people (taking anyone with 10k will lead to that) or their strategy is no good.

Anytime someone asks me about a firm that charges to teach their strategy I tell them it's a HUGE red flag. Stay far away.

I know trading has gotten much tougher the last 5 years or so, but people are still doing well out there. You just have to work a hell of a lot harder than you did in the 90's and early 2000's. Back in those days it was unheard of for a firm to actually charge guys to come trade for them. Now it seems more and more firms are going that route...taking less to no risk...too bad because those firms will never attract the better traders.
 
Quote from EPrado:

Either they are hiring the wrong people (taking anyone with 10k will lead to that) or their strategy is no good.
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Based on SMB's best ideas as posted on their website, it appears to be the latter.
 
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